News

October 01, 2015

An eye for interior details in premier New York City properties

In one of the most dynamic real estate markets in the country, American Development Group LLC (ADG) has garnered a reputation for expertly executed full-service real estate development. Based in West Hempstead, New York, ADG has leveraged a strong array of in-house talent, capabilities and resources to succeed in everything from high-end and luxury residential to affordable housing and rehab projects.

HAP Investments, a New York based investment and development company, has acquired a
development site at 215 – 219 West 28th Street, along with adjacent air rights.
The sale price was $51 million in a transaction negotiated by Bob Knakal and his team at Massey
Knakal.

How many units left at the new Park Slope condo build at 910 Union Street, also known as the Park Union? Four! The building hit the 50 percent mark two weeks ago, and just a few days later four buyers signed contracts. So now it’s 70 percent full.

PARK SLOPE—After Park Union announced that it was 50 percent sold two weeks ago, the Catholic school turned 15-unit condo development has now hit the 70 percent mark. That's pretty speedy, considering they went on the market five months ago, but there is a lot of demand in that neighborhood and there aren't that many residences to sell.

American Development Group, LLC (ADG) has announced that Mozarts and Einsteins, a pre-school of integrated arts and academics, has signed a new 10-year lease for 6,200 s/f of ground floor retail space at Park Union, the conversion of a historic, pre-war building into a luxury condominium development in Park Slope, Brooklyn.

Mozarts and Einsteins, a preschool of integrated arts and academics, has signed a new 10-year lease for 6,200 square feet of ground floor retail space at Park Union, the conversion of a historic, pre-war building into a luxury condominium development in Park Slope, Brooklyn.

Brooklyn, NY According to American Development Group, LLC (ADG,) Mozarts and Einsteins, a preschool of integrated arts and academics, has signed a new 10-year lease for 6,200 s/f of ground floor retail space at Park Union, the conversion of a historic, pre-war building into a luxury condominium development in Park Slope.

Rarely do the owners of old buildings converted to residential condominiums request inclusion in a historic district after they have adapted the facade, but the developers of the Park Union in Brooklyn’s Park Slope neighborhood are doing just that.

The Park Union developer not only restored the building but also added an intriguing detail: bronze medallions depicting the Soldiers’ and Sailors’ Arch in Grand Army Plaza.
Perry Finkelman, a partner and managing director of the American Development Group, said that when he first set eyes upon the Beaux Arts-style building at 910 Union Street, which was built as an Elks Lodge in 1914, he recognized its historic potential. Read More

January 25, 2013

Mozarts and Einsteins Stroll into Park Slope CommercialObserver.com

Mozarts and Einsteins will be opening a preschool in Park Slope, The Commercial Observer has learned.

The integrated arts and academics school inked a deal for a 6,200-square-foot, ground-floor retail space to house its latest expansion at 910 Union Street in Brooklyn.

“We are very excited to be opening our pre-school in the heart of Park Slope and in such a beautiful, historic building,” said Melody Stevens, founder of Mozarts and Einsteins, in a prepared statement. “We are looking forward to the opportunity to serve the community and believe our programming and curriculum will appeal to local families.”

The newest condo in Park Slope, 910 Union Street—between 8th Avenue and Grand Army Plaza—is expected to hit the market by the end of May, according to one of its developers. Brian Lockner, of American Development Group, says construction is close to wrapping and that the building will have 15 units: Two one-bedrooms, two two-bedrooms and 11 three-bedrooms. Lockner says the units will have high-end finishes, private outdoor space in each, and an elevator that opens directly into all the spreads aside from the ones on the first two floors. Lockner wouldn’t talk prices with us because the offering plan has yet to be approved, but we’re hearing from the brokerage community that the building may be aiming to set some Park Slope condo records, with prices running between $1.6 and $2 million. Clearly the family market is being targeted given how many three-bedrooms are being built. The shrouding covering the development makes it tough to determine how it’s going to turn out, but Lockner says a final exterior rendering has yet to be finalized and that the old one we have is out of date.

March 13, 2012

Premium Penthouses

Besides living above the fray, which in busy Manhattan is an exceptionally valuable commodity, deluxe penthouses typically offer spectacular views from multiple exposures, and often a series of elaborate terraces and rooftop decks. Living above it all brings a sense of nature and serenity that many New Yorkers can only dream about. Read More

July 29, 2010

More Glass and a Robot Garage Coming to Quiet Gramurray Block

A midblock mini-tower has been rising at 148 East 24th Street without anyone paying it much attention, but a tipster put us on the scent: "Do you guys know anything about this building, which is going up on 24th between Lex and 3rd? Read More

February 12, 2010

Park Slope condo project gets a new developer

A new developer has taken over a beleaguered condominium project in Park Slope, with plans to add a four-story addition to the squat Depression-era building just outside the tony neighborhood's landmark district. Read More

February 12, 2010

New York Magazine and statistician Nate Silver name Park Slope New York's best neighborhood

Park Slope, Brooklyn topped the list of New York City's best neighborhoods. Lower East Side came in second. Park Slopers have always thought their neighborhood was best - and now they have the stats to back it up. Read More